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The Guardian - US
The Guardian - US
World
Debbie Carlson

US frackers were already facing a global oil supply glut. Trump’s Venezuelan dream could make it worse

Oil United States Venezuela Rob Thummel Stewart Glickman Fracking
Smoke billows from one of four smokestacks at an industrial facility near a beach with people cavorting in the water
An oil refinery in Puerto Cabello, Venezuela, on 21 December 2025. Photograph: Matias Delacroix/AP

US shale-oil producers were already contending with oil prices at four-year lows. News that they may soon face a significant competitor in their back yard probably wasn’t how frackers wanted to greet 2026.

The US capture of Venezuela’s President Nicolás Maduro and his wife, Cilia Flores, hit the share prices of independent shale-oil producers, such as Diamondback Energy and Devon Energy, last week.

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